Safe N Lock Storage Acquires Development Site On Richmond Terrace In Staten Island For $1.97M

2604 Richmond Terrace, a development site located in Staten Island, was recently sold for $1,970,000. The property spans an area of 43,666 square feet, resulting in a price per square foot of $45. With a buildable square footage of 87,332, the price per buildable square foot stands at $23. The transaction took place on December 20, 2018.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,970,000
• Address: 2604 Richmond Terrace
• Market: Staten Island
• SF: 43,666
• PPSF: $45
• BSF: 87,332
• PPBSF: $23

The seller, Kenneth Labella, sold the property to Safe N Lock Storage, represented by Marc Sharinn. The buyer was aided by Stephen Smith of Quantierra Realty, while Michael Welgoss from Moller Realty represented the seller. Notably, @Quantierra_ utilized its proprietary database to identify and broker this deal, leveraging its system's effectiveness in self-storage deals. The text amendment requiring a special permit to build self-storage facilities in IBZs further enhanced the appeal of @Quantierra_ for this transaction.